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9.24.2013

20%

It's only a week away now! It all seems so close! The seller has updated the panel and we're one step closer to closing on our first home. For over two years we saved money for a down payment. At first, not as successfully, willing to spend money on pleasure, instead of delaying gratification. Back in May 2012 I asked for your advice in a post. I was told that it was best to save 20% (avoids some sort of monthly fee etc.), so we were working toward that. We tightened everything: dropping my smart phone, switching internet providers, limiting our grocery store spending (I posted about saving money back when we were newlyweds). Much of what we do to save money evolved over time. One of the biggest things for me is the order in which we do things. I've seen this advice on Dave Ramsey's website, and it's worked well for us. Give, save, spend. We give first (Mostly to the church and missionaries). Next we save. Of course, first I add up the bills we have and factor in gas and food, but everything above that goes right into a savings account. Spending comes next: bills, food, and gas. That's the order that helped us put 20% of our first house in the bank in the first two years of our marriage. What helps you save money? Where do you cut back when others spend? Any tips or tricks are welcome!